View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
June 11, 2015updated 04 Apr 2017 4:02pm

Europol partners with EAST to combat payment crime in Europe

The European Cybercrime Centre (EC3) at Europol has signed a memorandum of understanding (MoU) with the European ATM Security Team (EAST) to fight the threats of payment crime.

By Verdict Staff

The European Cybercrime Centre (EC3) at Europol has signed a memorandum of understanding (MoU) with the European ATM Security Team (EAST) to fight the threats of payment crime.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The MoU will expand partnership between EAST and Europol in combating all types of payment crime, including card-not-present fraud, card present fraud, hi-technology crime, as well as ATM malware and physical attacks.

In addition, the agreement will enable both the companies to exchange strategic data and other nonoperational information.

The MoU was signed during the 36th EAST Meeting of National Members at Europol’s headquarters in Hague.

Additionally, Europol has prepared guidelines about the threat presented by ATM logical and malware attacks. The document will be restricted to Law Enforcement and the payment/banking industry and its production will be coordinated by the EAST Expert Group on ATM Fraud (EGAF).

According to EAST statistics, 51 malware attacks were reported last year with significant related losses.

Europol’s deputy director of operations Wil van Gemert said: "Europol’s EC3 is pleased to further increase the cooperation with EAST, creating further capacity to combat the threats of payment crime."

EAST executive director Lachlan Gunn said: "The signing of this agreement further strengthens this relationship. Over the past 11 years ATM related payment card fraud has been the major fraud issue faced by many of our National Members, but logical and malware attacks are now recognised as an increasing threat.

"Our National Members represent 31 countries, with a total of 655,398 ATMs, and our working relationship with the European Cybercrime Centre is of great strategic importance to both the public and private sector."

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International